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NIA heartened by response of small business sector for unwavering support

Mr. Colin Dore, Permanent Secretary in the Ministry of Finance on Nevis and Mrs. Catherine Forbes, Development Officer in the Small Enterprise Development Unit in the Ministry of Finance

NIA CHARLESTOWN NEVIS (November 14, 2017) — The Nevis Island Administration (NIA) is pleased with the response of members of the small business sector for its unwavering support for the sector.

The observation came from Mr. Colin Dore, Permanent Secretary in the Ministry of Finance which has responsibility for the Small Enterprise Development Unit (SEDU), in a recent interview with the Department of Information.

“We have seen tremendous success of the activities that the administration has put in place, our enhanced policies and programmes to support the small business sector and we are very heartened by the response we have received from members of the small business sector,” he said.

The Permanent Secretary, expressed the view that the sector needed to be given much attention because small businesses grow into medium ones and eventually become micro and very large enterprises, which make them the engine of growth in the economy of Nevis.

“As a result of that, the administration has taken the decision that in 2018 and also for the remainder of this year, we are going to beef our activities in this sector, as a means of trying to get persons to come up with new and innovative ideas to transform them into business entities and to look for those non-traditional areas where you can develop businesses that can be successful,” he said.

Mr. Dore, said plans are afoot for the launch of a Small Business Development Centre in 2018. The facility would serve, in a way, as an incubating process that moves tan idea from the concept to the development stage.

The centre would provide counselling, business education, writing of business plans and financing which SEDU is already engaged in.

He said the facility would also serve to upgrade the existing activities of SEDU. It would be a facility more than granting loans to a holistic approach towards developing a business idea from concept to financing stage and later, monitoring to ensure that the businesses grow and develop from small into medium to very large organisations.

At present, SEDU is observing Global Entrepreneurship Week which provides an opportunity to highlight persons who have done well in the small business sector. It also provides greater support to others who have not done as well to assist them to achieve the level of success they wish to achieve in the life of their business.